Mortgage Process in Malaga & Marbella for Foreign Buyers

The Costa del Sol — especially Malaga and Marbella — remains one of Spain’s top destinations for international property buyers. With world-class infrastructure, high-end villas, and vibrant coastal living, demand is strong — and so is the mortgage market. If you’re a non-resident planning to buy property here, this guide will walk you through the Spanish mortgage process, step by step.


🏙️ Why Buy in Malaga or Marbella?

  • ☀️ 300+ sunny days a year

  • 🛫 Direct flights to EU, UK, and Middle East

  • 🏘️ High-end neighborhoods: Sierra Blanca, La Zagaleta, Golden Mile

  • 🌍 Foreign buyers from UK, Sweden, Norway, Netherlands, Germany

  • 💸 Long-term rental and investment potential year-round


🏦 Can Foreigners Get a Mortgage in Malaga or Marbella?

Yes — non-resident buyers are eligible for mortgages from Spanish banks operating throughout Costa del Sol. However, lenders are cautious with high-value properties, off-plan purchases, and foreign income, so preparation is key.


💶 Typical Mortgage Terms in Malaga & Marbella

Feature Typical Range
Loan-to-Value (LTV) 60–70% (often lower for villas or luxury)
Down Payment 30–40%
Mortgage Term 15–25 years
Interest Rate Fixed: 3.5–4.5%, Variable: Euribor + 1.5–2%
Debt Ratio Max 30–35% of income

📌 Banks may offer lower LTVs for non-EU applicants or properties over €1 million.


🧾 Required Documents for Non-Residents

  • Valid passport

  • NIE (Foreigner ID)

  • Proof of income (salary, pension, or dividends)

  • 1–2 years of tax returns

  • Recent bank statements

  • Foreign credit report

  • Reservation or private contract

  • Proof of deposit funds

📌 All documents must be translated to Spanish and legalized (apostille).


🏛️ Best Banks for Foreign Buyers in Costa del Sol

Bank Specialties in Malaga & Marbella
CaixaBank Experienced with international clients and online banking
Sabadell Dedicated expat mortgage department
Bankinter Flexible with freelancers and entrepreneurs
Unicaja Local bank with strong presence in Andalusia

💡 Mortgage brokers in Marbella can streamline the process and negotiate better rates for high-value purchases.


⚖️ Legal Considerations for the Region

  • 🧱 Illegal construction in older villas or rural areas

  • 🏗️ Off-plan properties: risk of delivery delays or license issues

  • 🧾 Short-term rental licenses: often restricted in Marbella’s luxury zones

  • 📄 Missing habitation certificates (especially in resale properties)

✅ A lawyer will:

  • Conduct due diligence on the property

  • Negotiate or review the mortgage terms

  • Represent you via Power of Attorney if buying remotely

  • Register the mortgage and title at closing


💸 Taxes & Mortgage-Related Costs in Malaga & Marbella

Cost Type Typical Range
Transfer Tax (ITP) 7–10% (varies by price bracket)
Mortgage Tax (AJD) 0–1.5%
Notary + Registry Fees 1.5–2%
Bank Arrangement Fees 0.5–1%

📌 High-value properties (€1M+) often come with higher legal scrutiny and lower bank valuations.


❓ FAQs

Can I get a mortgage for a luxury villa?
Yes, but you may be asked for more documentation, lower LTV, and higher income proof.

Is it possible to finance an off-plan property?
Yes — but only after the developer obtains a building license and the property can be legally mortgaged.

Can I apply remotely?
Yes — most steps can be handled by a lawyer via Power of Attorney without you flying to Spain.


🤝 How Borderless Lawyers Helps

We offer full legal and mortgage support for foreign buyers in the Costa del Sol:

  • NIE and bank account setup

  • Mortgage pre-approval

  • Legal due diligence for luxury or off-plan purchases

  • POA-based representation for remote closings

👉 Planning to buy in Malaga or Marbella? Let us guide you through a safe, successful mortgage process.

error: Content is protected !!